3865 W Giles Rd · Muskegon, MI 49445

$249,900

2 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 14 Days on market

Built 1960 5.00 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Appreciation +10.0/10.0
• Cash flow +9.2/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0

Listing remarks MLS

This Reeths-Puffer log home is a unique design and you must get inside to see it's craftsmanship. Offering privacy on 5 acres, and well off the road with a circle drive. There is a pellet stove insert in the living room that heats the whole house all winter. Inside are 3 floors with living room, 2 bedrooms on the upper floor, and main floor with eat-in kitchen, bathroom, and entry way just in from the attached garage. Cabin style feel inside with log walls, knotty pine ceiling and natural wood throughout. Underground, beneath the garage is a hidden bomb shelter custom-built with potential for many additional uses. Outside is a covered screen room perfect for entertaining, and a bonus storage shed with a workshop area. Wooded setting and just minutes from Lake MI, Muskegon Lake, and Muskegon State Park. Schedule your private showing today!

Key facts

• Covered screen room
• Workshop area
• 5 acres

Tags

• 5 ACRES
• PELLET STOVE INSERT
• HIDDEN BOMB SHELTER
• COVERED SCREEN ROOM
• BONUS STORAGE SHED
• WORKSHOP AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-186 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (29.3% below list).
• Recommended offer: $177k (29.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#92 in MI, #2,096 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Reeths-Puffer Schools (suburban): math 28% / reading 44% proficiency, ranked #254 of 540 in MI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elementary School (math 42% / reading 42%, grade F, #547 of 1,397 statewide, top 41%, 411 students, 51% FRL); Reethspuffer Middle School (math 29% / reading 54%, grade F, #192 of 493 statewide, top 39%, 542 students, 55% FRL); Reethspuffer High School (math 25% / reading 54%, grade F, #304 of 713 statewide, top 46%, 1,177 students, 53% FRL).
• Market conditions: 144 active listings in the ZIP; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Muskegon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $132k; list at $250k implies a 89% gain — meaningful room to come down on a strong offer.

Recommended offer $176,779 (29.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.71% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 11.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.77×
• Total profit: $124,163
• Equity at exit: $225,130

10-year hold

• IRR: 19.8%
• Equity multiple: 6.36×
• Total profit: $374,857
• Equity at exit: $485,501

Cash invested: $69,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 49445

• Home prices YoY: 7.2%
• Active inventory: 144
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,768 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$168 /mo · $2,021/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-186

Break-even live

Break-even rent $2,004

Max offer price $216,957

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-116	+0% $-186	+5% $-257	+10% $-328
Rent	-10% $-326	-5% $-256	+0% $-186	+5% $-117	+10% $-47
Rate	-1.0pp $-61	-0.5pp $-123	base $-186	+0.5pp $-251	+1.0pp $-317

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-13
   listing id $249,900 Pending 14 DOM
2. 2026-06-07
   statusdays on market $249,900 Pending 14 DOM
3. 2026-06-02
   days on market $249,900 Active 13 DOM
4. 2026-06-01
   days on market $249,900 Active 12 DOM
5. 2026-05-31
   days on market $249,900 Active 11 DOM
6. 2026-05-30
   days on market $249,900 Active 10 DOM
7. 2026-04-21
   status Pending 850-char remark

   Show marketing remark (850 chars)

   This Reeths-Puffer log home is a unique design and you must get inside to see it's craftsmanship. Offering privacy on 5 acres, and well off the road with a circle drive. There is a pellet stove insert in the living room that heats the whole house all winter. Inside are 3 floors with living room, 2 bedrooms on the upper floor, and main floor with eat-in kitchen, bathroom, and entry way just in from the attached garage. Cabin style feel inside with log walls, knotty pine ceiling and natural wood throughout. Underground, beneath the garage is a hidden bomb shelter custom-built with potential for many additional uses. Outside is a covered screen room perfect for entertaining, and a bonus storage shed with a workshop area. Wooded setting and just minutes from Lake MI, Muskegon Lake, and Muskegon State Park. Schedule your private showing today!

8. 2026-04-21
   status Pending 850-char remark

   Show marketing remark (850 chars)

   This Reeths-Puffer log home is a unique design and you must get inside to see it's craftsmanship. Offering privacy on 5 acres, and well off the road with a circle drive. There is a pellet stove insert in the living room that heats the whole house all winter. Inside are 3 floors with living room, 2 bedrooms on the upper floor, and main floor with eat-in kitchen, bathroom, and entry way just in from the attached garage. Cabin style feel inside with log walls, knotty pine ceiling and natural wood throughout. Underground, beneath the garage is a hidden bomb shelter custom-built with potential for many additional uses. Outside is a covered screen room perfect for entertaining, and a bonus storage shed with a workshop area. Wooded setting and just minutes from Lake MI, Muskegon Lake, and Muskegon State Park. Schedule your private showing today!

9. 2026-04-21
   status Pending

   Show marketing remark (850 chars)

   This Reeths-Puffer log home is a unique design and you must get inside to see it's craftsmanship. Offering privacy on 5 acres, and well off the road with a circle drive. There is a pellet stove insert in the living room that heats the whole house all winter. Inside are 3 floors with living room, 2 bedrooms on the upper floor, and main floor with eat-in kitchen, bathroom, and entry way just in from the attached garage. Cabin style feel inside with log walls, knotty pine ceiling and natural wood throughout. Underground, beneath the garage is a hidden bomb shelter custom-built with potential for many additional uses. Outside is a covered screen room perfect for entertaining, and a bonus storage shed with a workshop area. Wooded setting and just minutes from Lake MI, Muskegon Lake, and Muskegon State Park. Schedule your private showing today!

10. 2026-04-13
    listed $249,900 Active 850-char remark

    Show marketing remark (850 chars)

    This Reeths-Puffer log home is a unique design and you must get inside to see it's craftsmanship. Offering privacy on 5 acres, and well off the road with a circle drive. There is a pellet stove insert in the living room that heats the whole house all winter. Inside are 3 floors with living room, 2 bedrooms on the upper floor, and main floor with eat-in kitchen, bathroom, and entry way just in from the attached garage. Cabin style feel inside with log walls, knotty pine ceiling and natural wood throughout. Underground, beneath the garage is a hidden bomb shelter custom-built with potential for many additional uses. Outside is a covered screen room perfect for entertaining, and a bonus storage shed with a workshop area. Wooded setting and just minutes from Lake MI, Muskegon Lake, and Muskegon State Park. Schedule your private showing today!

11. 2026-04-13
    listed $249,900 Active 850-char remark

    Show marketing remark (850 chars)

    This Reeths-Puffer log home is a unique design and you must get inside to see it's craftsmanship. Offering privacy on 5 acres, and well off the road with a circle drive. There is a pellet stove insert in the living room that heats the whole house all winter. Inside are 3 floors with living room, 2 bedrooms on the upper floor, and main floor with eat-in kitchen, bathroom, and entry way just in from the attached garage. Cabin style feel inside with log walls, knotty pine ceiling and natural wood throughout. Underground, beneath the garage is a hidden bomb shelter custom-built with potential for many additional uses. Outside is a covered screen room perfect for entertaining, and a bonus storage shed with a workshop area. Wooded setting and just minutes from Lake MI, Muskegon Lake, and Muskegon State Park. Schedule your private showing today!

12. 2026-04-13
    listed $249,900 Active

    Show marketing remark (850 chars)

    This Reeths-Puffer log home is a unique design and you must get inside to see it's craftsmanship. Offering privacy on 5 acres, and well off the road with a circle drive. There is a pellet stove insert in the living room that heats the whole house all winter. Inside are 3 floors with living room, 2 bedrooms on the upper floor, and main floor with eat-in kitchen, bathroom, and entry way just in from the attached garage. Cabin style feel inside with log walls, knotty pine ceiling and natural wood throughout. Underground, beneath the garage is a hidden bomb shelter custom-built with potential for many additional uses. Outside is a covered screen room perfect for entertaining, and a bonus storage shed with a workshop area. Wooded setting and just minutes from Lake MI, Muskegon Lake, and Muskegon State Park. Schedule your private showing today!

13. 2018-09-17
    soldstatus $132,000
14. 2018-09-07
    soldstatus $132,000
15. 2018-09-07
    soldstatus $132,000 Sold
16. 2018-06-30
    status Pending
17. 2018-06-25
    listed $134,000
18. 2018-06-25
    listed $134,000 Active
19. 2018-06-25
    listed $134,000
20. 2017-03-09
    historical
21. 2017-03-09
    historical
22. 2017-03-01
    listed $120,000 Active
23. 2017-03-01
    listed $120,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $2,021 · $168/mo
• Projected year-2 tax: $2,935 · $245/mo
• Expected delta: +$914/yr (+$76/mo · 45.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,213
• − Mortgage interest: −$13,998
• − Property taxes: −$2,021
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$7,270
• Taxable loss: −$6,719
• Est. tax savings @ 24.0%: +$1,613
• After-tax cash flow: $-625/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Reeths-Puffer Schools
• NCES district ID: 2629540
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,223
• Composite: 31.62/100
• National rank: #5942
• State rank: #254 of 540 in MI

Livability — Muskegon

• Score: 79/100
• State rank: #92
• US rank: #2096

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety A- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 44,766
• Population (ZIP): 21,090

Population outlook (Muskegon County) Hauer SSP2

• Today (2025): 174,032 people
• By 2030: 173,365 · -0.4%
• By 2040: 168,877 · -3.0%
• By 2050: 160,306 · -7.9%
• By 2075: 134,426 · -22.8%
• By 2100: 98,836 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 10% Romanian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Muskegon

• 2024 margin: Toss-up / Even · D 48.4% · R 50.2% · Other 1.5%
• 2008→2024 swing: -31.1pp toward R · 2008: 29.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.6 2016: D+0.9 2012: D+17.8 2008: D+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.82%
• Current HPI: 605.31
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+108.2% since first listed

17 events — show timeline

• 2026-04-21 Pending — REALCOMP
• 2026-04-21 Pending — MiRealSource-MiMLS
• 2026-04-21 Pending — SW Michigan MLS
• 2026-04-13 Listed $249,900 SW Michigan MLS
• 2026-04-13 Listed $249,900 MiRealSource-MiMLS
• 2026-04-13 Listed $249,900 REALCOMP
• 2018-09-17 Sold (Public Records) $132,000 Public Records
• 2018-09-07 Sold (MLS) $132,000 SW Michigan MLS
• 2018-09-07 Sold (MLS) $132,000 REALCOMP
• 2018-06-30 Pending — SW Michigan MLS
• 2018-06-25 Listed $134,000 MiRealSource-MiMLS
• 2018-06-25 Listed $134,000 SW Michigan MLS
• 2018-06-25 Listed $134,000 REALCOMP
• 2017-03-09 Listing Removed — SW Michigan MLS
• 2017-03-09 Listing Removed — REALCOMP
• 2017-03-01 Listed $120,000 SW Michigan MLS
• 2017-03-01 Listed $120,000 REALCOMP

Property tax history

+7.4%/yr

Latest (2025): $2,021 · +2.9% YoY. Source: county tax records.